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California Construction Company Owner Guilty of Employment Tax Crimes

CPA Practice

According to court documents and statements made in court, Larry Kudsk of Berkeley, California, operated two construction businesses, Kudsk Construction, Inc., For both companies, Kudsk was responsible for filing quarterly employment tax returns and collecting and paying over to the IRS payroll taxes withheld from employees’ wages.

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Kansas Business Owner Pleads Guilty to $2.2 Million Employment Tax Scheme

CPA Practice

According to court documents and statements made in court, Sheryl Clanton of Bucyrus, Kansas, owned and operated McCorkendale Construction Inc., a business specializing in the construction and maintenance of underground infrastructure. million in employment taxes or file quarterly payroll tax returns as required by law.

Kansas 52
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Kansas Business Owner Pleads Guilty to $2.2 Million Employment Tax Scheme

CPA Practice

According to court documents and statements made in court, Sheryl Clanton of Bucyrus, Kansas, owned and operated McCorkendale Construction Inc., a business specializing in the construction and maintenance of underground infrastructure. million in employment taxes or file quarterly payroll tax returns as required by law.

Kansas 52
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Why Hiring a Tax Pro Boosts Your Small Business (and Saves You Money)

MyIRSRelief

They stay current on the latest regulations, ensuring your business maximizes legal tax breaks on forms like 1120, 1120S, and 1065, while minimizing liabilities. Compliance Navigation: Tax compliance goes far beyond just filing. Year-round support and assistance with any tax-related questions or concerns that may arise.

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LLC vs. S Corp: Which Offers Better Tax Savings?

Cherry Bekaert

Taxation Considerations Similar to S corps, LLCs (and partnerships) are considered “pass-through” entities in which a business’s income and expenses flow through to the partners and are reported on the partners’ personal income tax returns. This means that the partnership does not pay income tax.

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Understanding Bookkeeping for Landscaping Business

Steve Feinberg

Many business owners make the mistake of considering bookkeeping only when taxes are due, but saving all of your important financial work for a single time during the year can lead to costly mistakes, incorrect tax returns and refunds, and missed opportunities for savings and effective budgeting throughout the year.

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Business Tax Credits to Lower Your Tax Bill

xendoo

Startups that have less than $5 million in annual gross receipts could apply up to $250,000 of the credit to offset payroll taxes. Since the IRS calculates the tax credit amount based on the amount a company spends on R&D, most early-stage startups don’t qualify for the full amount. For non-profits, it is up to 35%.